I haven't paid my Cap One unsecured installment loan for about 6 months? Not quite sure, lost count. Today a CA called my mother in law, not sure how they got her number & didn't call mine that was on file? I owe $25K, which I had to stop paying since I lost my job. The guy offered me a settlement of $15K, which I don't have. He said it will go to legal if I don't pay. I don't have that kind of money, do you think they will go lower? I am contemplating BK7, so not sure what to do. How low do you think they would go down?
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Since it is an unsecured loan, and you are considering filing BK, I would suggest you get your paperwork together and go ahead and file. The caller is trying to scare you into paying something, and he may go lower, but it's doubtful. And they usually want it in a lump sum.
Are thinking about hiring an attorney, or would you feel confident enough to file on your own? If you case is simple and straightforward, you can probably handle it yourself--if you feel comfortable with it. Otherwise I suggest scheduling two-four free consults with bk attorneys and see what they have to say.
Good luck to you!
"To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed." -
I vote to file bk.Attorney Retained/Paid: 1-4-10
Online CCC-Completed & Cert Received: 1-8-10
Filed Chapter 7 1-18-10.
341 3-10-10 ~~~ Last Day to Object: 5-10-10Comment
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